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TREND PAPER / HOME ENERGY STORAGE: NEXT GENERATION OPPORTUNITIES IN SMART HOMES Home Energy Storage Next generation opportunities in Smart Homes 7 Home Energy Systems In an effort to provide total energy independence, Tesla is developing a home energy storage system to provide solar energy throughout the day and night, even during inclement weather. Toyota's recently developed O-Uchi Kyuden System offers similar solutions. Schneider Smart Home Hub This system will be dedicated to auto- switching between power sources at key times during the day. It will also notify consumers of blackouts, in order to turn off and save enough energy through power outages. • Automated energy-saving practices with little to no effort 20 : Most consumers will not choose to adopt new energy saving behaviors if they don't realize a direct benefit or financial reward. This makes the advent of new technologies that automate more sustainable energy practices for consumers a winning solution. The ability to change consumer habits, without requiring them to learn new procedures and protocols, is expected to create long-term energy saving practices. • Home technology enables energy independence 21 : As buying solar panels, electric vehicles and e-bike charging stations for the home become more mainstream, so too will energy storage systems. Currently, many homes are not equipped with the technology that allows them to store excess energy. However, new battery technologies are making it possible for homes to become self-sufficient regardless of how far off the grid they may be located. This creation of a micro-grid ecosystem puts less stress on main energy grids and answers consumer needs for more reliable power supply. Economic and environmental factors are driving change in energy usage and storage in the immediate future while population change, and technology will have greater impact long term. Graphic Source: Euromonitor International (EMI)